Victory Capital Management Inc. Sells 289,834 Shares of Evertec, Inc. $EVTC

Victory Capital Management Inc. cut its holdings in Evertec, Inc. (NYSE:EVTC) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,506,326 shares of the business services provider’s stock after selling 289,834 shares during the quarter. Victory Capital Management Inc.’s holdings in Evertec were worth $50,884,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Evertec by 10.2% during the 1st quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider’s stock valued at $1,389,000 after purchasing an additional 3,495 shares in the last quarter. AQR Capital Management LLC bought a new stake in Evertec in the first quarter worth $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Evertec by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider’s stock worth $1,394,000 after purchasing an additional 1,222 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Evertec by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider’s stock worth $3,189,000 after buying an additional 846 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Evertec by 184.6% during the first quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider’s stock worth $4,917,000 after buying an additional 86,733 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Wall Street Zen raised Evertec from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Morgan Stanley cut their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a report on Monday, December 29th. Finally, Susquehanna decreased their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.80.

Evertec Price Performance

NYSE EVTC opened at $28.55 on Friday. Evertec, Inc. has a twelve month low of $24.95 and a twelve month high of $38.56. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.91 and a current ratio of 2.07. The stock has a market capitalization of $1.76 billion, a PE ratio of 13.04, a P/E/G ratio of 1.09 and a beta of 0.85. The stock has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $30.33.

Evertec (NYSE:EVTC) last announced its earnings results on Thursday, February 26th. The business services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $244.83 million during the quarter, compared to the consensus estimate of $236.83 million. Evertec had a return on equity of 33.27% and a net margin of 15.19%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. Evertec has set its FY 2026 guidance at 3.840-3.960 EPS. Research analysts anticipate that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were paid a $0.05 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Evertec’s dividend payout ratio (DPR) is presently 9.13%.

Evertec Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.